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MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWAT DECEMBER 31,
2015 AND DECEMBER 31, 2014
The accompanying Notes 1 to 28 are an integral part of this consolidated financial statement at December 31, 2015.
(Continue)
Thousands of euros
12/31/15
12/31/14
CASH FLOWS FROM OPERATING ACTIVITIES
Net profit before tax
219,140
85,548
Adjustment for:
Amortization of audiovisual property rights (Note 8)
205,156
199,220
Depreciation and amortization charge (Note 6 and 7)
17,099
17,268
Result of companies accounted for using the equity method (Note 10)
313
(1,898)
Change in provisions for bad debt
47
-
Change in provisions for contingencies and charges
3,594
(451)
Net finance expense (Note 24.6)
805
632
Net exchange differences (Note 24.7)
(860)
(620)
Disposals of other assets
369
1,244
Impairment of other financial assets
1,389
61,092
Gains (losses) on disposal of financial assets
(15,603)
-
Profits from operations before changes in working capital
431,449
362,035
Change in operating assets and liabilities net of the impact of acquisition of
new investments
Inventories
(4,965)
3,091
Accounts receivable
(22,051)
(6,200)
Other current assets
8,525
(698)
Accounts payable
3,957
(32,994)
Other current liabilities
(5,591)
4,750
Change in provisions
3,369
3,852
Cash flows from operating activities
414,693
333,836
Taxes paid at sources
(19,447)
(6,996)
Net cash flows from operating activities (A)
395,246
326,840